Balcony Solar Storage Market Thrives in 2024 as Five Types of Companies Compete for Growth

As of this year, the market for balcony solar energy storage is gaining significant attention, with five categories of companies vying for dominance. Recently, domestic and international companies such as HuaYuxin, Maitian Energy, GuruiWat, Anker Innovation, and EcoFlow have launched new products in this sector, aiming to penetrate the European balcony solar energy storage market.

The balcony solar energy storage sector represents a new frontier in distributed energy, having gained traction in 2023 and rapidly heating up in 2024. In various settings such as home balconies, garages, and yards, the combination of balcony solar panels, micro-inverters, and micro-storage systems is making clean energy readily accessible to countless households.

The swift development of this market is largely driven by the increasing demand for small-scale distributed clean energy solutions from households in Europe and North America, along with supportive photovoltaic policies from countries like Germany and the Netherlands. Reports indicate that thanks to Germany’s simplified Solarpaket I legislation, the country’s balcony photovoltaic capacity is expected to reach 426 MW in 2024, marking explosive growth and making it the largest in Europe.

Moreover, countries like Poland, Austria, the Czech Republic, Italy, and other Eastern European nations also hold significant potential for this market. The trend of balcony solar energy storage may extend to regions such as North America, Latin America, Southeast Asia, and Africa.

According to QYResearch, the global balcony energy storage market is projected to reach $14.972 billion by 2031, with a compound annual growth rate of 21.1% over the next few years.

In the global arena, the players in the balcony solar energy storage sector include inverter/micro-inverter companies, portable storage firms, residential storage enterprises, photovoltaic/appliance manufacturers, and new energy companies. Notable examples include:

• Inverter/Micro-inverter Companies: Enphase, GuruiWat, HuaYuxin, Deye, Hema, YN Energy, Sanjing Electric, GoodWe, Airo Energy, Enyip, Shouhang New Energy, Haipeng Technology, Yijing Microelectronics, Benyi Electric, and Enwo New Energy;
• Portable Storage Companies: Anker Innovation, Huabao New Energy, Jianghai Technology (Zendure), EcoFlow, and Huamei Xingtai;
• Residential Storage Companies: Wotai Energy, Tuobang Co., Tengsheng Storage, Maitian Energy, Deleland, and Aiyang Power;
• Photovoltaic/Appliance Companies: Solarwatt, TCL, Skyworth, Midea Hekang New Energy, and Haier Nahui New Energy;
• New Energy Players: Jiayu Digital Energy, Xihe Future, Tiangji New Energy, and Songrong New Energy Technology.

China, along with parts of Asia and Latin America, is the main production area for balcony solar energy storage products, while developed regions like Europe and North America represent the primary application markets. Key manufacturers in this space include Anker Innovation, Enphase, GuruiWat, Wotai Energy, Solarwatt, and EcoFlow. Micro-inverter firms and portable storage companies have established a leading edge due to their brand influence and established distribution channels.

In its 2024 report, Anker Innovation noted that its energy storage business generated over 3 billion yuan in revenue for the year, reflecting a remarkable 184% increase, positioning its balcony storage sales as number one globally.

As the global battleground for balcony solar energy storage intensifies, countries like Germany and the Netherlands are experiencing significant policy benefits. Germany’s 800W balcony photovoltaic bill simplifies installation, while the Netherlands promotes user storage through negative electricity pricing and net metering policies. Overall, the balcony energy storage market remains relatively small and is still in its early stages of rapid development, characterized by fierce competition.

In November 2024, global micro-inverter leader Enphase launched the new IQ PowerPack 1500, a portable mobile power supply with a capacity of 1.5 kW featuring its proprietary Enphase IQ8 micro-inverter. Chinese companies such as HuaYuxin, Maitian Energy, GuruiWat, Anker Innovation, EcoFlow, Hema, YN Energy, and Shouhang New Energy are quickly capturing market share through competitive pricing and comprehensive solutions.

For instance, HuaYuxin showcased its balcony micro-storage system at Intersolar, featuring a 2.56 kWh battery capacity (expandable to 10.24 kWh with three units), with a maximum output power of 1200W, compatible with low-power DC devices and easy to install alongside micro-inverters. Huabao New Energy introduced a new DIY small-scale home green power system, Jackery Home Power 2000 Ultra, equipped with a 2 kWh lithium iron phosphate battery expandable to 8 kWh and capable of handling a maximum of 2800W photovoltaic input (2000W MPPT and 800W micro-inverter).

Additionally, Anker Innovation and GuruiWat have released integrated balcony solar storage units designed to lower entry barriers for users, while Penghui Energy unveiled its new balcony storage solution Allpowers POWISER at CES 2024. Jiayu Digital Energy has developed an 800W micro-inverter for European non-standard rooftops, and Deye plans to launch grid-tied balcony solar storage products in Germany.

Importantly, the integration of distributed photovoltaics with storage technology is focusing on “micro-inverter + micro-storage” solutions, marking an evolution to version 3.0 of balcony solar energy systems. The typical configuration can be summarized as: 800W-2000W photovoltaic module input + 800W micro-inverter + 2 kWh-10 kWh expandable micro-storage. For example, Huamei Xingtai’s MARSTEK brand offers the JUPITER series, with product capacities ranging from 2560Wh to 5120Wh, supporting up to 2 kW solar input and 800W AC grid output, featuring a plug-and-play installation.

GuruiWat’s new NEXA 2000 balcony solar storage product features an integrated design combining an inverter with a 2 kWh battery (expandable to 8 kWh), equipped with four MPPTs capable of accepting up to 2600W of photovoltaic input and a nominal AC output power of 800W.

In summary, balcony photovoltaics have evolved to version 3.0, where the integrated units include both micro-inverters and micro-storage, leading to higher technical integration, more intelligent systems, reduced energy consumption, easier installation, and simplified user experiences.

However, it should be noted that the balcony energy storage market is still in its development phase. There remains substantial potential for growth in areas such as policy support, market expansion, technological innovation for enhanced safety and efficiency, modular designs to lower installation barriers, and large-scale production to reduce costs. Despite the promising outlook, challenges persist, including limited balcony space, component power restrictions, policy uncertainties, low market awareness, product homogeneity, high initial investment costs, and prolonged payback periods.

In terms of competition, users in Europe and North America tend to show greater loyalty to local brands, with Enphase micro-inverter products capturing over 70% of the North American market. Local brands such as Solarwatt and Deleland are also actively seeking OEM partnerships. The geopolitical risks affecting the global economy and the Chinese supply chain will significantly impact Chinese companies operating in this sector.

For Chinese enterprises, the key to maintaining a competitive edge lies in continuous technological innovation, strengthening technical barriers, optimizing cost control, enhancing localized services, and leading product innovation while constructing an intelligent ecosystem.